The NEM Foundation, developers of the NEM blockchain platform providing payments, messaging, asset creation, and more, today announced a strategic alliance with Blockchain Global, one of Australia’s leading blockchain companies operating international auditing and network infrastructure services.
The partnership’s first initiative will be to open a Blockchain Center in Kuala Lumpur, Malaysia to serve as an incubator, accelerator, and co-working space. Scheduled to open in August 2017, the 10,000 square-foot Blockchain Center will house the NEM Blockchain Innovation Lab, a headquarters for research and development as well as regional support for organizations interested in using the NEM platform.
Later this year, NEM plans to work with Blockchain Global to develop a cryptocurrency exchange for the NEM ecosystem. Blockchain Global previously built ACX.io, Australia’s largest Bitcoin exchange by volume.
Lon Wong, president of the NEM.io Foundation said:
“We’re excited to partner with Blockchain Global in this rapidly evolving blockchain ecosystem. This strategic alliance will fuel expanded reach, deeper collaboration, and multiplication of value as we journey towards developing blockchain hubs around the world.”
NEM.io Foundation is expected to spend around $40 million USD in the next year to fund its global expansion programs. $5 million will be allocated towards supporting blockchain companies incubated in the Blockchain Center.
Sam Lee, CEO of Blockchain Global said:
“We’re proud to work with the NEM.io Foundation, as we believe their blockchain technology platform is the future standard for mainstream enterprise and organizational infrastructures. The opening of a nonprofit blockchain center in Malaysia allows both Blockchain Global and NEM to pursue our missions to foster mainstream innovation and adoption internationally.”